Millennium Management LLC Buys 65,774 Shares of News Co. (NASDAQ:NWS)

Millennium Management LLC increased its holdings in shares of News Co. (NASDAQ:NWS) by 79.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,036 shares of the company’s stock after purchasing an additional 65,774 shares during the period. Millennium Management LLC’s holdings in News were worth $4,231,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Metropolis Capital Ltd boosted its position in shares of News by 13.2% during the second quarter. Metropolis Capital Ltd now owns 842,235 shares of the company’s stock valued at $23,911,000 after buying an additional 98,172 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of News by 156.1% during the first quarter. Edgestream Partners L.P. now owns 156,547 shares of the company’s stock valued at $4,236,000 after buying an additional 95,429 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of News by 172.2% during the second quarter. SG Americas Securities LLC now owns 118,499 shares of the company’s stock valued at $3,364,000 after buying an additional 74,968 shares during the last quarter. Shilanski & Associates Inc. bought a new stake in News during the first quarter worth $1,319,000. Finally, Squarepoint Ops LLC lifted its holdings in News by 418.8% during the second quarter. Squarepoint Ops LLC now owns 57,826 shares of the company’s stock worth $1,642,000 after acquiring an additional 46,679 shares during the period. Institutional investors and hedge funds own 14.63% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Loop Capital upgraded News to a “strong-buy” rating in a report on Tuesday, September 10th.

News Stock Performance

Shares of News stock opened at $27.40 on Friday. The firm has a market capitalization of $15.61 billion, a P/E ratio of 76.11 and a beta of 1.36. The business’s fifty day simple moving average is $27.98 and its 200 day simple moving average is $27.42. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. News Co. has a 12 month low of $20.85 and a 12 month high of $29.59.

News (NASDAQ:NWS) last issued its earnings results on Thursday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $2.58 billion for the quarter. News had a return on equity of 4.51% and a net margin of 2.64%.

News Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 9th. Stockholders of record on Wednesday, September 11th were given a $0.10 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 11th. News’s dividend payout ratio (DPR) is presently 55.56%.

News Profile

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.